Cyprus football clubs face frozen accounts over €1m tax debt

Tax Commissioner Soteris Markides has told APOEL, Anorthosis, Apollon and AEL to clear one million euros in new VAT and income tax debts by August 20. If the four do not comply, Markides said, he will start freezing their bank accounts.

Markides went to a CFA meeting last Monday attended by club representatives and told them the Tax Department will make no concessions on the debt repayment scheme, and that he would grant no extension on the deadline. The department will not turn a blind eye to...